s overseas business and resilient demand for healthcare should offset the near-term headwinds posed to the group due to the ongoing lockdown in Malaysia.
According to RHB Research, narrowing losses in Gleneagles Hospital Hong Kong, higher contributions from Covid-19-related services and cost-saving initiatives are offsetting the impact from the extension of Phase 1 of the National Recovery Plan.
In FY20, Malaysia contributed 19% of Ebitda while its hospitals in Singapore, India and Turkey accounted for 82% in aggreate with Greater China recording losses.
RHB noted that there is a global backlog in medical prodedures due to the pandemic, with elective surgeries in New South Wales, Australia, rising to the highest in any quarter in the decade, while backlogs in Canada and the UK could take years to clear.
Bowtie and Gleneagles Hospital launch Medical Insurance + Wellness package for Hongkongers Details 13 April 2021
Bowtie Life Insurance Company (Bowtie) and Gleneagles Hospital Hong Kong have partnered on a first-of-its-kind healthcare offering, the Medical Insurance + Wellness package.
A voluntary health insurance scheme (VHIS), the package offers customers a premium healthcare option that they can pair with wellness services of their choosing.
There are three key elements of the scheme:
Full reimbursement for medical packages - Customers will be fully reimbursed for diagnostic or surgical procedures under 240 selected medical packages, disregarding co-pay or individual benefit limits.
Annual health checkups - Access to comprehensive annual health checkups up to HK$2,720.
KUALA LUMPUR (Feb 26): Hospital operator IHH Healthcare Bhd expects its Gleneagles Hong Kong Hospital to break even in terms of earnings before interest, tax, depreciation and amortisation (EBITDA) for its current financial year, providing the financial hub does not stay in a protracted lockdown.
IHH managing director and chief executive officer (CEO) Dr Kelvin Loh said revenue from the hospital grew 11% quarter-on-quarter, following higher inpatient revenue as a result of higher occupancy rate, with inpatient admission increasing 8% q-o-q.
Compared to a year ago, the hospital revenue’s contribution increased 46%, while EBITDA losses narrowed 81% to RM9.4 million. Inpatient admission increased 35% year-on-year. “Average occupancy in the fourth quarter was at 63% for about 200 operational beds,” Loh noted.